Colorado To Tax Legalized Marijuana

The debate over taxes now extends to pot. Colorado voted to legalize marijuana but lawmakers have been debating how to tax it, and that debate is partisan. Democrats want taxes high, saying consumers will gladly pay. Republicans want lower taxes, saying otherwise a black market will develop. But to their credit, lawmakers took a deep breath, inhaled, and let the system work. After considering a 30 percent tax, the State House trimmed it to 25.